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Thu May 30 2024

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Progress for Interserve

12 Nov 12 A combination of a strong order book and cash generated from asset disposals has put Interserve in a strong position, according to chief executive Adrian Ringrose.

In the past four months Interserve has won more than £500m of new work and received £124.5m cash by selling PFI investments.

Mr Ringrose said: "The business continues to progress well in mixed market conditions. Having unlocked material value from our balance sheet we are now well placed to make further progress in our strategic development."

In August Interserve sold half its stake in the University College London Hospital private finance initiative project. Last month it sold a minority stake in a portfolio comprised of 19 investments. This has ‘materially strengthened’ the company’s financial position from that reported in the half-year report at 30 June.

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